Case Study - Quikrete
Automated bank reconciliation, efficient exceptions management
Founded on May 22, 1940 in Columbus, Ohio, Quikrete is the largest manufacturer of packaged concrete and cement mixes in North America, and an innovative leader in the building and home improvement industries. In addition, Quikrete offers related products through numerous wholly-owned subsidiaries. Collectively, Quikrete operates about 250 facilities in the U.S., Canada, Puerto Rico and South America.
Challenges Before ReconArt
Like many businesses today, Quikrete’s bank reconciliation process was becoming increasingly difficult to perform manually. Working with various bank accounts involving different currencies requires a lot of time and people to manage, leading them to search for a solution to bring speed and efficiency to their reconciliation process.
When the Quikrete team came across ReconArt, they were impressed with ReconArt’s user configurable, automated matching rules that allowed them to quickly match thousands of transactions. Not only was this process sped up, but it also become more transparent due to ReconArt’s ‘live look’ at data being constantly imported automatically. This allows managers and administrators the ability to generate on demand reports, which can help identify issues or exceptions more quickly than in a manual process.
Implementation and Ongoing Success
ReconArt has a flexible implementation team of product specialists that work at your desired pace. In Quikrete’s case, they were prepared with necessary staff and data on their end to ‘Go-Live’ ASAP. ReconArt’s Train-The-Trainer implementation approach involves meeting with product specialist several times a week to not only get the solution up and running, but also train users how to set up new processes so ReconArt can grow as the company does.
The Quikrete team was able to quickly adapt to the ReconArt solution, and begin taking ownership of their system, adding their own accounts, and continually enhancing the matching and exception management process. Today, the team completes their bank reconciliations with their desired level of efficiency, accuracy, and visibility.
Case Study: New Generation Online Bank
|Focus:||Large volume transaction matching, risk management|
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